The global Sulfur Coated Urea Market is estimated to be valued at US$ 1114.76 Mn or Mn in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Sulfur coated urea is a slow release fertilizer which contains water insoluble sulfur layer around solid urea prill. This coating slows down the release of ammonium into the soil, allowing nitrogen to be steadily available to plants for up to three months. It provides uniform nutrient release and improves nutrient use efficiency.
Market key trends:
One of the key trends in the sulfur coated urea market is its use for turf and landscape applications. Sulfur coated urea has more effectiveness and uniform release properties compared to conventional quick release fertilizers. It maintains consistent nitrogen levels in soil for an extended period, preventing nitrogen burn and supporting healthy turf growth. This has increased its popularity among landscapers and turf grass growers.
SWOT Analysis
Strength: Sulfur coated urea slowly releases nutrients, reducing nitrogen losses and increasing fertilizer efficiency. The slow release property minimizes environmental impacts.
Weakness: It costs more than other synthetic fertilizers due to additional processing required to coat urea with sulfur. Local farmers may not be able to afford it.
Opportunity: Increasing demand for fertilizers that improve soil health and sustainability presents an opportunity. Governments can incentivize use of sulfur coated urea to promote more efficient farming practices.
Threats: Fluctuating prices of raw materials like urea and sulfur can increase production costs, threatening profit margins. Substitute fertilizers may emerge that are more cost effective.
Key Takeaways
The global Sulfur Coated Urea Market Share is expected to witness high growth, exhibiting CAGR of 4.8% over the forecast period, due to increasing demand for efficient fertilizers to boost agricultural productivity while minimizing environmental impacts.
Regional analysis North America dominates the global market currently due to widespread adoption in major crops like corn and wheat grown in the region. Asia Pacific is expected to be the fastest growing market due to rising fertilizer consumption with increasing agricultural production in countries like China and India.
Key players operating in the sulfur coated urea market are Agrium Inc., Israel Chemicals Ltd., Syngenta AG., Yara International ASA, Andersons Inc., Haifa Chemicals Ltd, J. R. Simplot Company, Koch Industries Inc., Harrell€TMs LLC. These players are focusing on new product launches catering to unique soil and crop requirements to gain a competitive edge.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
